With the purpose of ensuring the respect of all the shareholders, creditors and other investors, as well as those of other Interest Groups, the General Shareholders Meeting of Colombia Telecomunicaciones S.A. ESP (hereinafter the “Company”) adopted in its meeting of March 27th, 2014 this “Good Corporate Governance Code” that will rule the ethical behavior of the Company and compiles the management, conduct, information and control regulations to which it is subject. Through this Good Corporate Governance Code, the Company seeks to ensure its adequate management, the public knowledge of its administration and the evaluation and control mechanisms of said evaluation.

Additionally, through the Acting Principles, the Company expresses the ethical conducts and behaviors that guide its activities, which allows it to build up confidence relationships with its interest groups, strengthen its corporate reputation and contribute to the generation of whole and transparent surroundings in the companies where it is present. The Acting Principles have been defined in the strategic framework of the Company, such as the Code of Ethics or Conduct that guides the employees’ behavior in the exercise of their duties.

We are committed to comply with the value promise made by the Company to all its interest groups, through the adoption of the Good Corporate Governance Code, and especially to strengthen of communication with our shareholders and investors.